Stock Traders Buy Large Volume of Square Put Options (NYSE:SQ)
Square, Inc. (NYSE:SQ) saw some unusual options trading activity on Monday. Investors purchased 11,023 put options on the stock. This is an increase of approximately 385% compared to the average volume of 2,271 put options.
In other Square news, CEO Jack Dorsey sold 381,500 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $20.42, for a total value of $7,790,230.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 90,000 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $23.36, for a total transaction of $2,102,400.00. Following the completion of the sale, the director now directly owns 186,308 shares in the company, valued at approximately $4,352,154.88. The disclosure for this sale can be found here. Insiders sold 914,900 shares of company stock worth $20,202,610 in the last ninety days. Insiders own 32.68% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of Square by 22.7% in the first quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares during the last quarter. Glassman Wealth Services increased its stake in shares of Square by 1,987.3% in the first quarter. Glassman Wealth Services now owns 6,575 shares of the technology company’s stock valued at $114,000 after buying an additional 6,260 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Square by 19.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after buying an additional 1,099 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Square during the first quarter valued at about $131,000. Finally, CENTRAL TRUST Co increased its stake in shares of Square by 683.7% in the second quarter. CENTRAL TRUST Co now owns 8,613 shares of the technology company’s stock valued at $203,000 after buying an additional 7,514 shares during the last quarter. Institutional investors and hedge funds own 76.25% of the company’s stock.
Shares of Square (NYSE SQ) opened at 25.59 on Thursday. The firm’s market cap is $9.63 billion. The stock has a 50 day moving average of $24.96 and a 200 day moving average of $19.56. Square has a 52-week low of $10.85 and a 52-week high of $27.97.
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $240 million for the quarter, compared to the consensus estimate of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. Square’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) earnings per share. Equities analysts predict that Square will post $0.19 EPS for the current fiscal year.
SQ has been the topic of several recent research reports. Vetr raised shares of Square from a “buy” rating to a “strong-buy” rating and set a $26.28 price target on the stock in a report on Monday, July 10th. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, August 1st. Citigroup Inc. boosted their price objective on shares of Square from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 6th. Deutsche Bank AG boosted their price objective on shares of Square from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $24.00 price objective on shares of Square in a research report on Wednesday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.61.
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Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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